Details are sketchy, but it seems the private-equity group at HSBC Canada is set to be acquired by the management team. It’s understood talks are considerably advanced and the deal for the sale of HSBC Capital (Canada) Inc. – which has offices in Vancouver, Calgary, Edmonton and Toronto – could be announced within the next month.
It looks like earlier estimates of 10,000 job cuts at HSBC was not correct. Try 30,000 jobs lost at HSBC.
HONG KONG/LONDON – Banking group HSBC Holdings Plc may cut more than 10,000 jobs as part of its plan to slash costs by up to $3.5 billion a year, Sky News reported Thursday.
NEW YORK, July 14 (Reuters) – Capital One Financial Corp and Wells Fargo are among the bidders for HSBC Holdings Plc’s U.S. credit card portfolio, according to sources familiar with the situation.